Financial News
: Lockheed Martin raises dividend by nearly 8%, buybacks by $5 billionExternal Link

Lockheed Martin Corp. LMT said late Thursday its board raised its dividend and its authority to buy back stock. The aerospace company said its fourth-quarter dividend of $2.80 a share represents a 7.6% increase and is payable Dec. 27 to shareholders as of Dec.1. The board also authorized an additional $5 billion of share buyback power, raising the company’s total authority to $6 billion. Lockheed Martin shares were up 0.5% after hours, following a 0.7% rise in the regular session to $344.20. Shares have fallen 10% over the past 12 months, compared with a 37% gain on the S&P 500 index SPX.

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Thu, 23 Sep 2021 20:58:00 GMT
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U.S. oil prices log highest finish since late JulyExternal Link

Oil futures climbed on Thursday, with U.S. prices settling at their highest since late July. It's been a "risk-on day across the board," said Tariq Zahir, managing member at Tyche Capital Advisors. "Another storm is expected to become a major hurricane in the Atlantic, but the long term track is still uncertain at this point," he said. "Between the risk-on environment in equity markets and uncertainty of future storms, we expect to maintain strength in the energy markets until more clarity is achieved." West Texas Intermediate crude for November delivery rose $1.07, or 1.5%, to settle at $73.30 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since July 30, FactSet data show.

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Thu, 23 Sep 2021 18:39:30 GMT
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Gold futures mark lowest finish in over 6 weeksExternal Link

Gold futures moved sharply lower on Thursday to log their lowest finish in more than six weeks. The loss is "related to a combination of factors centered around investor confidence improving and fear easing," said Colin Cieszynski, chief market strategist at SIA Wealth Management. So far, China property giant Evergrande's problems have been contained, the Federal Reserve is moving toward tapering and at the Bank of England's monetary policy committee vote, there were two "hawkish dissenters" calling for reducing stimulus as well, he said. "A more hawkish trend for central banks improves the value of paper money relative to hard currency like gold." December gold fell $29, or 1.6%, to settle at $1,749.80 an ounce, the lowest most-active contract finish since Aug. 10, FactSet data show.

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Thu, 23 Sep 2021 17:47:20 GMT
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Brilliant Earth skyrockets 27% in trading debutExternal Link

Jewelry seller Brilliant Earth Group Inc. made its trading debut on Thursday, skyrocketing 27.3% out of the gate. The company halved its IPO offering to 8.33 million shares in the IPO, and priced at $12, below the expected range of between $14 and $16 per share. Brilliant Earth is trading on the Nasdaq under the ticker "BRLT." It joins a number of companies, including Remitly Global Inc. , Sovos Brands Inc. , and EngageSmart Inc. that began trading on Thursday. There were 14 IPO deals planned for this week. The Renaissance IPO ETF has gained 8.2% for the year to date while the S&P 500 index is up 18.6% for the period.

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Thu, 23 Sep 2021 16:46:53 GMT
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Rao's sauce, Noosa yogurt parent Sovos Brands soars 21% as trading begins after IPOExternal Link

Sovos Brands Inc. , parent company to pasta sauce brand Rao's and yogurt brand Noosa, soared 20.8% as trading began on Thursday. Shares priced at $12 per share, below the expected pricing range of $14 to $16. The company sold 23.33 million shares in the IPO to raise $280 million. The IPO pricing valued the company at about $1.17 billion. The stock is trading on the Nasdaq under the ticker symbol "SOVO." The company joins a number of others including Remitly Global Inc. and EngageSmart Inc. in opening for trading on Thursday alone. The Renaissance IPO ETF has gained 8.1% for the year to date while the S&P 500 index is up 18.6% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 23 Sep 2021 16:37:08 GMT
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